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December 16, 2008

News Briefing: Giant Wall St. Fraud Leaves Charities Reeling

  • The nonprofit community continues to reel from the Madoff scandal.  [New York Times]

  • The Brooklyn Museum transfers its rich collection of costumes to the Metropolitan Museum of Art.  [New York Times]

  • Senator Frank Lautenberg's foundation is among the groups that has lost money in Bernard Madoff's fraud.  [Bloomberg]

  • City officials have taken unprecedented steps to prevent a next wave of veterans from sleeping on its streets.  [New York Times]

Posted at 10:33 AM in Arts, Finance | | Comments (0) | TrackBack (0)

December 15, 2008

News Briefing: Madoff Arrest Forces Nonprofit’s Closing, Stirs Worry at Others

  • Arts organizations around Long Island try to cut spending and replace income with creative fundraisers.  [New York Times]
  • Nonprofits around the nation brace for fallout following the arrest of New York money manager Bernard Madoff.  [Bloomberg]
  • A report from the National Endowment for the Arts indicates vulnerability for new theatrical organizations.  [Associated Press]

Posted at 10:01 AM in Accountability, Arts, Finance | | Comments (0) | TrackBack (0)

December 11, 2008

News Briefing: Princeton Settles Money Battle Over Gift

  • Princeton reaches a settlement with heirs to the A&P grocery fortune over a gift donated in 1961.  [New York Times]
  • Frank Batten donates up to $70 million to Culver Academies, the military boarding school he attended in Indiana.  [The Virginian-Pilot]
  • Wealthy families use mission statements to set goals in their family foundations.  [Wall Street Journal]
  • National Public Radio is cutting 7% of its work force due to an unexpected revenue shortfall.  [New York Times]

Posted at 09:46 AM in Arts, Education, Foundations | | Comments (0) | TrackBack (0)

December 10, 2008

News Briefing: From Canned Goods to Fresh, Food Banks Adapt

  • Food banks are no longer simply the domain of canned corn and peanut butter, offering ready-to-eat meals, fresh produce, and social services.  [New York Times]
  • Thomas Menino, Mayor of Boston, forms a task force to negotiate ways in which nonprofit universities and hospitals increase their payments in lieu of taxes.  [Boston Globe]
  • The Baltimore Opera Company files for bankruptcy.  [Baltimore Sun]

Posted at 10:59 AM in Arts, Education, Foundations | | Comments (0) | TrackBack (0)

December 08, 2008

News Briefing: Laws Seek to Counter Clothing-Bin Fraud

  • The Museum of Contemporary Art in Los Angeles needs to raise roughly $25 million.  [New York Times]
  • An increasing number of for-profit companies claiming to be charities are collecting donated clothes to sell.  [New York Times]
  • Hundreds of legal aid organizations nationwide face losing a significant amount of their operating money.  [Associated Press]

Posted at 10:19 AM in Accountability, Arts | | Comments (0) | TrackBack (0)

December 05, 2008

News Briefing: Soaring in Art, Museum Trips Over Finances

  • A new company enables individuals to support a worthy cause simply by clicking online.  [San Francisco Chronicle]
  • U.S. foundations gave money to international causes at record levels in 2007.  [Associated Press]
  • The Museum of Contemporary Art in Los Angeles faces a financial crisis that threatens its survival as an independent institution.  [New York Times]

Posted at 10:45 AM in Arts, Foundations, Technology | | Comments (0) | TrackBack (0)

December 04, 2008

News Briefing: Bill Gates Prods Washington on Foreign Aid, Education

  • Bill Gates urges lawmakers and the Obama administration to maintain U.S. investments in foreign-aid and education initiatives.  [Wall Street Journal]
  • Harvard announces a 22% drop in its endowment in an interim report.  [New York Times]
  • The ascension of Philip J. Smith and Robert E. Wankel to the top of the Shubert Organization last week ends a 20-year guessing game.  [New York Times]
  • Earl Stafford, a businessman in Virginia, buys a $1 million inauguration hotel package so that people in need can attend.  [Los Angeles Times]

Posted at 10:07 AM in Arts, Education, Gates | | Comments (0) | TrackBack (0)

December 03, 2008

News Briefing: College May Become Unaffordable for Most in U.S.

  • Clinton's conference in Hong Kong results in pledges to charities worth $185 million.  [Associated Press]

  • Harvard University says its endowment has dropped $8 billion in the last four months.  [Associated Press]

  • The rising cost of college threatens to put higher education out of reach for most Americans, according to a new report.  [New York Times]

  • JPMorgan Chase will match Washington Mutual's 2008 level of corporate philanthropy in Washington state in the coming year.  [Seattle Post-Intelligencer]

  • Despite a drop in assets, the Weinberg Foundation distributes a record $100 million in grants to nonprofits.  [Baltimore Sun]


  • Philip J. Smith is named chairman of the Shubert Organization and the Shubert Foundation, replacing his longtime friend Gerald Schoenfeld, who died last week.  [New York Times]

Posted at 10:02 AM in Arts, Clinton Global Initiative, Education, Foundations | | Comments (0) | TrackBack (0)

December 02, 2008

News Briefing: Rescuing a Landmark From Time and the Elements

  • The original workroom of Gertrude Vanderbilt Whitney is in such disrepair that it has been suspended from public tours.  [New York Times]
  • Some philanthropic gropus have hundreds of gift opportunities this holiday season that are designed to save and enrich lives.  [USA Today]
  • Higher education becomes a global commodity, as universities worldwide compete for the same pool of well-qualified students.  [New York Times]

Posted at 09:39 AM in Arts, Education | | Comments (0) | TrackBack (0)

November 24, 2008

News Briefing: New Way To Rate Charities Sought

  • Eli Broad offers $30 million to help rescue the Museum of Contemporary Art if the museum's trustees also increase their donations.  [New York Times]
  • Several of the country's highest-paid university presidents announce that they will give back part of their pay or forgo their raises.  [New York Times]
  • Jurors begin eighth day of deliberations in the retrial of the Holy Land Foundation for Relief and Development.  [Associated Press]
  • Majority of wealthy households who stop giving to nonprofits attribute the change to 'no longer feeling connected to the organization."  [Boston Globe]
  • An alliance of prominent philanthropists and entrepreneurs is developing a rating system to help donors better evaluate charities.  [Washington Post]

Posted at 10:06 AM in Accountability, Arts, Education, Terrorism | | Comments (0) | TrackBack (0)

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